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Nexstar Media Group Inc (NASDAQ:NXST) shares are trading higher premarket on Thursday after the company reported a fourth-quarter FY24 net revenue increase of 14.1% year over year (Y/Y) to $1.488 billion, in line with the consensus.
- Revenues from Advertising rose 29.6% Y/Y to $758 million, led by a $223 million Y/Y rise in election-year political advertising to $254 million.
- Distribution revenue gained 1.4% Y/Y to $714 million, driven by favorable distribution contract renewals in 2023, annual rate escalators, an increase in vMVPD subscribers, new CW affiliations on certain …
